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Write up the transactions in the general ledger

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Reference no: EM132838592

Pearce & Sons started Business in Feb 2020. They have the following transactions at for the month of Feb 2020.

2020

Feb 1 Started business with; £21,500 in the bank account,

a van £25,000 and office fixtures £800

2 A loan of £2,500 was received from Lloyds Bank.

3 The amount of £1500 was transferred from Bank Account to Cash in hand account.

4 Bought Van paying by cheque £4,800

5 Bought office fixtures £1100 on credit from Quick Office Ltd

8 Bought a new van on credit from Nissan Co. £5,200

15 Bought office fixtures paying by cash £70

19 Paid Nissan Co. a cheque for whole amount of debt

25 Paid £350 of the cash in hand into the bank account

28 Bought new office fixtures paying via bank account £620

Required:

Problem a. Write up the transactions in the general ledger (T Accounts) of Pearce & Sons

Problem b. Balance up the accounts and extract a Trial Balance as at 28 Feb 2019.

Reference no: EM132838592

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